OP Bancorp Stock Forecast
OP Bancorp stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The OP Bancorp stock price gained 1.91% on the last trading day (Thursday, 2nd May 2024), rising from $9.41 to $9.59. During the last trading day the stock fluctuated 2.67% from a day low at $9.38 to a day high of $9.63. The price has risen in 7 of the last 10 days and is up by 4.92% over the past 2 weeks. Volume fell on the last day by -17 thousand shares and in total, 35 thousand shares were bought and sold for approximately $332.30 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $9.80 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.33% during the next 3 months and, with a 90% probability hold a price between $7.80 and $8.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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OPBK Signals & Forecast
The OP Bancorp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.37 and $9.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for OP Bancorp stock
OP Bancorp finds support from accumulated volume at $9.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.250 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: $9.20 (-4.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (OPBK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect OP Bancorp to open at $9.53, and during the day (based on 14 day Average True Range), to move between $9.36 and $9.82, which gives a possible trading interval of +/-$0.228 (+/-2.38%) up or down from last closing price. If OP Bancorp takes out the full calculated possible swing range there will be an estimated 4.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.41 (1.88%) than the resistance at $10.04 (4.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is OP Bancorp stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.204 Buy Candidate Upgraded
Predicted Opening Price for OP Bancorp of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $9.53 ( 0.591%) | $9.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPBK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.78 | 2.02 % | |
| R2 | 9.69 | 1.02 % | ||
| R1 | 9.63 | 0.405 % | ||
| Current price: | 9.59 | |||
| Support | S1 | 9.44 | -1.59 % | |
| S2 | 9.38 | -2.20 % | ||
| S3 | 9.28 | -3.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.58 | 10.32 % | |
| R2 | 10.20 | 6.36 % | ||
| R1 | 10.04 | 4.69 % | ||
| Current price | 9.59 | |||
| Support | S1 | 9.41 | -1.88% | |
| S2 | 9.13 | -4.80% | ||
| S3 | 9.05 | -5.63% |
OPBK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 08, 2024 | May 23, 2024 | $0.120 | 1.25% |
| 2 | Jan 25, 2024 | Feb 07, 2024 | Feb 22, 2024 | $0.120 | 1.15% |
| 3 | Oct 26, 2023 | Nov 08, 2023 | Nov 23, 2023 | $0.120 | 1.39% |
| 4 | Jul 27, 2023 | Aug 09, 2023 | Aug 24, 2023 | $0.120 | 1.26% |
| 5 | Apr 27, 2023 | May 10, 2023 | Aug 24, 2023 | $0.120 | 1.26% |
FAQ
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